bce
BCE Inc., an abbreviation of its former name Bell Canada Enterprises Inc., is a publicly traded Canadian holding company for Bell Canada, which includes telecommunications providers and various mass media assets under its subsidiary Bell Media Inc. Founded through a corporate reorganization in 1983, when Bell Canada, Northern Telecom, and other related companies all became subsidiaries of Bell Canada Enterprises Inc., it is one of Canada’s largest corporations. The company is headquartered at 1 Carrefour Alexander-Graham-Bell in the Verdun borough of Montreal, Quebec, Canada.
BCE Inc. is a component of the S&P/TSX 60 and is listed on the Toronto Stock Exchange and the American-based New York Stock Exchange.
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BELL ALIANT INC. $26.87 (Toronto symbol BA; Shares outstanding: 227.8 million; Market cap: $6.1 billion; TSINetwork Rating: Average; Dividend yield: 7.1%; www.aliant.ca) sells phone and Internet services to 2.5 million customers in Atlantic Canada and rural Ontario and Quebec....
BCE INC., $46.58, Toronto symbol BCE, reported higher-than-expected earnings and raised its dividend this week. In the three months ended December 31, 2013, the company’s earnings rose 16.4%, to $540 million, or $0.70 a share. These figures exclude unusual items, such as costs to integrate recently acquired broadcaster Astral Media. On that basis, BCE’s earnings beat the consensus estimate of $0.69 a share. A year earlier, it earned $464 million, or $0.60 a share. Revenue rose 4.3%, to $5.4 billion from $5.2 billion. In addition to Astral’s contribution, the company is attracting more wireless, high-speed Internet and digital TV customers. That’s helping offset lower revenue from traditional phones....
BCE INC. $46.67 (Toronto symbol BCE; Shares outstanding: 775.9 million; Market cap: $36.2 billion; TSINetwork Rating: Above Average; Dividend yield: 5.0%; www.bce.ca) is selling four of its specialty TV channels: Family Channel, Disney XD and the English and French Disney Junior stations. The buyer is DHX Media (Toronto symbol DHX).
The company acquired these channels as part of its $3.3-billion purchase of Astral Media in July 2013. Selling them will help BCE comply with conditions that regulators imposed as part of that deal.
If regulators approve, BCE will receive $170 million for these four channels. The company aims to complete the sale in 2014.
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The company acquired these channels as part of its $3.3-billion purchase of Astral Media in July 2013. Selling them will help BCE comply with conditions that regulators imposed as part of that deal.
If regulators approve, BCE will receive $170 million for these four channels. The company aims to complete the sale in 2014.
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ISHARES DOW JONES CANADA SELECT DIVIDEND INDEX FUND $23.86 (Toronto symbol XDV; buy or sell through brokers; ca.ishares.com) holds 30 of the highest-yielding Canadian stocks. Its selections are based on dividend growth, yield and payout ratio. The weight of any one stock is limited to 10% of its assets. The fund’s MER is 0.55%. It yields 4.1%.
The fund’s top holdings are CIBC, 6.8%; National Bank, 6.4%; Bonterra Energy, 6.4%; TD Bank, 5.9%; Bank of Montreal, 5.7%; Telus, 4.7%; Royal Bank, 4.6%; IGM Financial, 4.5%; Bank of Nova Scotia, 4.3%; and BCE, 4.0%.
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ISHARES S&P/TSX 60 INDEX FUND $19.25 (Toronto symbol XIU; buy or sell through brokers; ca.ishares.com) is a good low-fee way to buy the top stocks on the TSX. The units are made up of stocks that represent the S&P/TSX 60 Index, which consists of the 60 largest, most heavily traded stocks on the exchange. Expenses are just 0.17% of assets.
The index mostly consists of high-quality companies. However, it must ensure that all sectors are represented, so it holds a few we wouldn’t include.
The index’s top holdings are Royal Bank, 8.3%; TD Bank, 7.3%; Bank of Nova Scotia, 6.4%; Suncor Energy, 4.5%; CN Railway, 4.1%; Bank of Montreal, 3.9%; Manulife Financial, 3.1%; Canadian Natural Resources, 3.1%; CIBC, 3.0%; BCE, 3.0%; Enbridge, 3.0%; Valeant Pharmaceuticals, 2.9%; TransCanada Corporation, 2.7%; Potash Corp., 2.4%; CP Rail, 2.1%; Telus, 2.0%; and Cenovus, 1.9%.
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The index mostly consists of high-quality companies. However, it must ensure that all sectors are represented, so it holds a few we wouldn’t include.
The index’s top holdings are Royal Bank, 8.3%; TD Bank, 7.3%; Bank of Nova Scotia, 6.4%; Suncor Energy, 4.5%; CN Railway, 4.1%; Bank of Montreal, 3.9%; Manulife Financial, 3.1%; Canadian Natural Resources, 3.1%; CIBC, 3.0%; BCE, 3.0%; Enbridge, 3.0%; Valeant Pharmaceuticals, 2.9%; TransCanada Corporation, 2.7%; Potash Corp., 2.4%; CP Rail, 2.1%; Telus, 2.0%; and Cenovus, 1.9%.
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BELL ALIANT INC. $27 (Toronto symbol BA, Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 229.1 million; Market cap: $6.2 billion; Price-to-sales ratio: 2.2; Dividend yield: 7.0%; TSINetwork Rating: Average; www.bellaliant.ca) sells phone and Internet services to 2.4 million customers in Atlantic Canada and rural Ontario and Quebec.
Like BCE, the company continues to replace copper wires with fibre optic cable. It now has 944,914 high-speed Internet users (up 3.4% from a year earlier) and 163,264 digital TV customers (up 52.0%).
In the three months ended September 30, 2013, Bell Aliant’s revenue fell 0.4%, to $694.9 million from $697.4 million a year earlier. Before one-time items, earnings fell 6.7%, to $0.42 a share from $0.45. However, cash flow (after capital expenditures) jumped 28.0%, to $0.64 a share from $0.50.
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Like BCE, the company continues to replace copper wires with fibre optic cable. It now has 944,914 high-speed Internet users (up 3.4% from a year earlier) and 163,264 digital TV customers (up 52.0%).
In the three months ended September 30, 2013, Bell Aliant’s revenue fell 0.4%, to $694.9 million from $697.4 million a year earlier. Before one-time items, earnings fell 6.7%, to $0.42 a share from $0.45. However, cash flow (after capital expenditures) jumped 28.0%, to $0.64 a share from $0.50.
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BCE INC. $46 (Toronto symbol BCE; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 775.9 million; Market cap: $35.7 billion; Price-to-sales ratio: 1.8; Dividend yield: 5.1%; TSINetwork Rating: Above Average; www.bce.ca) is Canada’s largest provider of telephone services, with 5.3 million customers in Ontario and Quebec. It also has 2.2 million high-speed Internet customers and 2.2 million TV subscribers. Together, these services supply 47% of the company’s revenue.
BCE also sells wireless services across Canada. Its 7.8 million mobile subscribers provide 29% of its revenue.
In addition, BCE owns 44% of regional phone company Bell Aliant (see page 2). This investment supplies 13% of its revenue. The remaining 11% comes from its Bell Media division, which owns the CTV Television (30 stations), 34 specialty channels, pay-TV services and 107 radio stations.
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BCE also sells wireless services across Canada. Its 7.8 million mobile subscribers provide 29% of its revenue.
In addition, BCE owns 44% of regional phone company Bell Aliant (see page 2). This investment supplies 13% of its revenue. The remaining 11% comes from its Bell Media division, which owns the CTV Television (30 stations), 34 specialty channels, pay-TV services and 107 radio stations.
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iShares Canadian Fundamental Index Fund ETF, $13.39, symbol CRQ on Toronto (Units outstanding: 16.8 million; Market cap: $225.0 million; ca.ishares.com), aims to track the FTSE RAFI Canada Index. The ETF’s top 10 holdings are Royal Bank, 7.2%; TD Bank, 6.2%; Bank of Nova Scotia, 5.0%; Manulife Financial, 4.6%; Suncor Energy, 4.4%; Bank of Montreal, 4.0%; Encana, 3.3%; CIBC, 3.0%; Canadian Natural Resources, 2.8%; and Sun Life Financial, 2.6%. Its expenses are 0.72% of its assets. The RAFI (Research Affiliates Fundamental Index) methodology aims to select companies by the highest fundamental measures of their size, rather than by market capitalization (or the value of all their outstanding shares)....
BCE is one of our long-time favourites. When we first recommended it in our April 1995 issue, we felt it was poised to profit as many of its phone customers signed up for Internet access. The company later cut its risk by unloading its remaining shares in telecom equipment maker Nortel Networks at the peak of the tech boom in 2000.
The company’s outlook remains bright....
The company’s outlook remains bright....
BELL ALIANT INC. $27 (Toronto symbol BA, Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 229.1 million; Market cap: $6.2 billion; Price-to-sales ratio: 2.2; Dividend yield: 7.0%; TSINetwork Rating: Average; www.bellaliant.ca) sells phone and Internet services to 2.4 million customers in Atlantic Canada and rural Ontario and Quebec.
Like BCE, the company continues to replace copper wires with fibre optic cable....
Like BCE, the company continues to replace copper wires with fibre optic cable....